Summary of the book Fundamentals of Strategy, fourth edition. H2 through 8 is summarized including the models shown in the book. In some terms Dutch explanatory notes added.
fundamentals of strategy strategy samenvatting fundamentals strategic sbrm orm ondernemerschap en retail management small business and retail management jaar 4 strategic performance strategic performance management
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Summary: Fundamentals of Strategy, ISBN: 9781292209067 Advanced Management and Marketing (Management part) (BMO21306)
Volledige samenvatting Advanced Management and Marketing
Summary Fundamentals of strategy (4th Edition)
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Samenvatting Fundamentals of Strategy
Hoofdstuk 2
Key drivers for change: the environmental factors likely to have a high impact on industries
and sectors, and the success or failure of strategies within them. (wat zijn nu de echte dingen
die gaan veranderen? Bv. Duurzaamheid)
2 criterea:
- Uncertainty: make different scenarios.
- Mutual independence: lead to different outcomes
Forecasting: Forecasting takes three fundamental approaches based on varying degrees of
certainty: single-point, range and multiple-futures forecasting.
- Single point forecasting = where organisations have such confidence about the future
that they will provide just one forecast number. (rechte lijn)
- Range forecasting = where organisations have less certainty, suggesting a range of
possible outcomes. (bereik)
- Alternative futures forecasting = typically involves even less certainty, focusing on a
set of possible yet distinct futures. (verschillende opties)
Directions of change:
Megatrends = (trends, langdurig en geen hype bv duurzaamheid). large scale PESTEL
movements that are typically slow to form, but which influence many other activities and
views, possibly over decades.
Inflexion points = movements when trends shift in direction, for instance turning sharply
upwards or downwards. (punt wanneer het echt gebeurd)
Weak signals = advanced signs of future trends and are particularly helpful in identifying
inflexion points. (zwakke signalen die trend watchers bijvoorbeeld zien en alarm slaan)
Scenario analysis = typically used in conditions f high uncertainty, f.e. where the
environment could go in several highly distinct directions.
Scenarios offer plausible alternative views of how the macro-environment might develop in
the future, typically the long-term.
5 steps:
- Defining scenario scope: scope refers to the subject of the scenario analysis and the
time span. Bv which market
- Identifying the key drivers for change: use pestel f.e.
- Developing scenario stories
- Identifying impacts: (wat gebeurd er)
- Monitor progress
, Hoofdstuk 3: Industry and sector analysis
Industry = a group of firms producing products and services that are essentially the same.
(E.g. Automobile) (bedrijven die zelfde producten leveren)
Market = a group of customers for specific products or services that are essentially the same
(e.g. a particular geographical market) (mensen met zelfde behoeften die dezelfde producten
kopen)
Porters’ five forces framework helps to analyse an industry and identify the attractiveness
of it in terms of five competitive forces: extent rivalry between competitors, threat of
entry, threat of substitutes, power of buyers and power of suppliers. (kijken hoe
belangrijk een bepaalde sector is voor het bedrijf. Worden we gelukkig van de sector waar
we inzitten?)
Complementors = if an organisation enhances your business attractiveness to customers or
suppliers. (bv apps voor apple, hoe meer apps hoe leuker apple)
Value net = a map of organisations in a business environment demonstrating opportunities
for value-creating cooperation as well as competition. (het web van bedrijven om ons heen
die samen met ons waarde toevoegen voor de klant)
Network effects: if in an industry one customer of a product or service has a positive effect
on the value of that product for other customers. ( ebay en marktplaats, hoe meer gebruikers
hoe beter het product)
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